for your business
What is a Small Business Loan?
A small business loan refers to funds borrowed by a current or potential small business owner. Borrowers can use these funds to purchase a small business, launch a small business or generate additional income for their current small business. Various funding options are available for small business owners, including term loans, SBA loans, microloans and merchant cash advances. People often ask if a small business loan is the same as a startup loan. Sometimes borrowers use the terms interchangeably, but not every small business loan is also a startup loan. Sometimes you can differentiate between these loan types by considering how long a company has been in business.
Who can request a small business loan?
In order to qualify for a small business loan, you must meet the following guidelines:
- You must own a small business or plan on buying or starting one with your funds.
- You must be at least 18 years old.
- You must have a business in an approved industry.
- You must have verification your business exists or is in the process of launching, such as an EIN, tax documents, business license, or bank statements.
- Your business must have the ability to generate a profit.
- You must meet credit requirements.
- You must use the funds for business-related purposes unless otherwise specified.
Please see our FAQ for more information about the process.
Rates & Fees
LendingSlide is not a lender or a loan broker. We do not make loan decisions. We are a loan connect system. We connect consumers who are looking for business loans or personal loans to lenders who may be able to help by offering a loan to qualified consumers.
